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Overnight in Asia, Chinese markets were stronger by about a third of a point on news out of the government that growth of 7.2% is required to provide strong employment over the next year. Japan was also higher as bargain hunters stepped in after a few days of losses.

In Europe the forecasts are coming for 2014 and 2015 and as mentioned yesterday, the road is bumpy but it would seem the big economy is going in the right direction. 2013 will end slightly positive with GDP at about 0.4%. The forecast for 2014 is 1.1% and 2015 1.7%. Also, the UK Service Sector advanced at the fastest pace in more than 16 years. None of this news however is what the markets were looking for as an interest rate cut and or more asset purchases by the ECB is what traders want. To that end markets in the region are down about a point at midday.

US and Canadian futures are trading down about a quarter point this morning as many are still setting up for the onslaught of economic news coming toward the end of the week.

Gold is up slightly this morning to 1314, oil is off 0.29 to 94.33 and the loonie is down about a quarter cent to 95.68. Bonds are off slightly with the US and Canadian 10 years’ yielding 2.62% and 2.50% respectively.

Mandate earnings out this morning are showing beats across the board with CVS Caremark, Brookfield Renewable Energy and TransCanada all coming in ahead of estimates. All three securities are trending higher in the pre-market.

Lastly, a few other things that caught my eye this morning:

· Twitter has increased the price of the IPO to the mid $20’s from the mid teens.

· Blackberry settled in down about 17% yesterday and looks to open where it closed this morning as the deal makers are trying to spin the latest developments, I continue to suggest avoidance.

· EnCana, once the darling of the natural gas industry in Canada this morning came out with a big earnings miss and a re-structuring program that will see the company downsize by about 20%. The company is also cutting its dividend by two thirds and spinning off Clearwater Minerals in an IPO.